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 Consumer Plans To Pay Off Debt According to Reality Gap Study ISLANDIA, N.Y, (PRNewswire), March 9, 2003 - Almost half of Americans are making just minimum payments or no payments on their credit card balances, according to the Cambridge Consumer Credit Index. Of those surveyed who had revolving balances on their credit cards, 6% made no payments, 40% plan to make slightly more than the minimum payment, 37% expect to pay less than half the balance but more than the minimum, while 17% will pay more than half their balance. 44% of the respondents said they are incurring debt because they don't have funds to pay for the purchases in full, while 56% of Americans are incurring additional debt because they are confident of their abilities to pay off their balances in full when the bill arrives. 31% of respondents with credit cards extended their payments last month, while 43% paid off their balances in full and 26% did not use their credit cards at all. These findings are the result of monthly nationwide telephone poll of 1000+ adults conducted by ICR/International Communications Research in the past week, sponsored by The Debt Relief Clearinghouse. According to Jordan Goodman, spokesperson for the Index, "The results of Cambridge Consumer Credit Index's March wildcard question indicate a large split among the haves and have-nots among American consumers. The haves are paying off their credit cards in full and are using their credit cards confidently to make purchases knowing they will be able to pay when the bills arrive. The have-nots are barely able to make their minimum payments-some 6% aren't even able to make any payments-and they are using their cards knowing they don't have the money to pay the bills when they arrive." These results are similar to findings from the March 2002 wildcard question, which found that of the consumers who revolve credit card balances, only 47% made minimum payments, 37% paid under half the balances and 3% made no payments at all. The overall Cambridge Consumer Credit Index increased by four points in March to 60. The "Reality Gap," which is the difference between the amount of debt consumers say they will pay off in the next month compared to the amount of debt they actually pay off a month later, fell from 20 points to 12 percentage points. A month ago, 81% planned to pay off debt, while a month later only 69% actually did so. According to Chris Viale, General Manager, of Cambridge Credit Counseling Corp, "It is alarming to see that many Americans are knowingly incurring debt they are not able to pay off. With the economy in turmoil, it is important for consumers to create a realistic budget and savings plan. Hard earned money should not be spent to pay high interest rates on credit card balances, but rather on a nest egg to fall back on." Majority in National Poll Feel Very Secure in Their Jobs NEW YORK, N.Y, (PRNewswire), March 9, 2003 - A national telephone poll conducted within the past two weeks revealed that more Americans are confident about keeping their jobs. A clear majority of working Americans said they felt very secure in their jobs (52%). Comparatively, 32% said they felt somewhat secure, and 9% said they were somewhat insecure and only 5% felt very insecure. The poll, which was commissioned by Bernard Haldane Associates, the career management firm, queried a cross-section of Americans who were randomly selected for phone interviews. When asked to compare their sense of job security now with six months ago, a slight majority (40%) said they feel 'more secure' in their jobs now than they did in August 2002, compared with 23% who feel less secure and 35% who feel about the same. "Although Americans are starting to feel more secure in their current jobs, most say they wouldn't want to be on the market now," says Jerry Weinger, Chairman of Bernard Haldane Associates, which has over 100 offices worldwide. "In this climate, where searches can take longer and become more frustrating, it is crucial to use proactive networking techniques rather than waiting for something to appear in the want ads." In response to questions about conducting a job search now compared with six months ago, a majority, 63% said they thought they would have a harder time now. Only 17% said it would be easier to find a job now compared with six months go and an equal number (17%) said it would be the same. Proposed Health Legislation to Help Small Businesses WASHINGTON, D.C., (SLFP.com), March 7, 2003 - U.S. Senator Kit Bond, (R-MO), has announced that he is cosponsoring legislation to help small businesses across the country provide health insurance to millions of families. In an statement, Bond stated, "For the sake of small businesses throughout this country, their employees, and their families, we must pass AHP legislation. Through swift and bipartisan action we must bring fortune 500 health care to small business." Joined by Secretary of Labor Chao, leading sponsor Senator Snowe (R-ME) and fellow cosponsor Senator Talent (R-MO), Senator Bond introduced the Small Business Health Fair Act of 2003. More than 41 million Americans are uninsured yet as many as 24 million individuals, or 60 percent of the uninsured are employed. Many of these individuals who are employed but uninsured work for small businesses that are unable to afford the out of control health insurance costs. According to Bond's bill, an Association Health Plans (AHPs) would be established to help reduce costs through greater economies of scale to spread costs and risk, increase group bargaining power with large insurance companies, and generate more insurance options for small businesses. With this ability the Congressional Budget Office reports that health insurance premiums will drop 13 percent for small business employers. AHPs have a broad and diverse coalition of support including President Bush, the Department of Labor, the Small Business Administration and more than 100 other groups. Bond cosponsored similar legislation last year in what has become a decade long fight to finally establish AHPs. STL-News is owned and maintained by the Moore Design Group as a special feature of the Saint Louis Front Page for the sole purpose of disseminating news and information about the Metropolitan Saint Louis area. 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